Allegion plc (NYSE:ALLE) Receives Average Recommendation of “Reduce” from Analysts

Allegion plc (NYSE:ALLE) has received a consensus recommendation of “Reduce” from the five analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $144.60.

A number of research analysts have recently commented on ALLE shares. Wells Fargo & Company increased their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Allegion in the 1st quarter valued at approximately $2,271,000. BNP Paribas Financial Markets grew its stake in shares of Allegion by 90.7% in the 1st quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after purchasing an additional 57,832 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Allegion by 5.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock valued at $29,074,000 after purchasing an additional 10,896 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Allegion by 22.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock valued at $14,157,000 after purchasing an additional 19,570 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Allegion in the 2nd quarter valued at approximately $3,762,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

ALLE stock opened at $142.33 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The firm has a market capitalization of $12.45 billion, a P/E ratio of 23.22, a P/E/G ratio of 4.50 and a beta of 1.12. The business’s 50-day moving average is $142.34 and its two-hundred day moving average is $130.16. Allegion has a 1 year low of $95.97 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. Allegion’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. Analysts anticipate that Allegion will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. Allegion’s dividend payout ratio is presently 31.32%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.